MediaTek Rides High To Record 2016 Profits Thanks To Chinese Smartphones

Posted: Jan 10 2017, 4:58am CST | by , in Latest Business News


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MediaTek rides high to record 2016 profits thanks to Chinese smartphones

Booming popularity with Chinese smartphone makers is the main reason cited for record profits

MediaTek is a chipmaker that makes one of the more popular smartphone chipset platforms on the market today with its Helio series. The company has seen its chips put under the hood of HTC smartphones and many others. MediaTek parts are especially popular for Chinese smartphone makers and the firm has ridden that popularity to record revenues for 2016.

MediaTek recorded profit gain of 29.2% for 2016 compared to the previous year. That works out to profits of NT$275.51 billion or about US$8.6 billion. The robust growth is credited in large part to the booming Chinese smartphone business where MediaTek chipsets are especially popular.

Mediatek had plans to grow profits even further moving into 2017 by focusing on high-end mobile processors in a bid to move from focusing on market share to profits for 2017 tip market observers. Consolidated revenues for December 2016 were NT$21.35 billion, which was actually a decline sequentially, a 9-month low for the firm, and a decline of 12.4% on the quarter.

That is rather interesting considering the last quarter of the year is typically the best for many firms thanks to holiday shopping. However, the profits for the quarter were within MediaTek's own projections. During Q3 2016 the company posted profits of NT$78.4 billion, which was 8.1% growth sequentially and 37.6% growth year-over-year.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
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